DETROIT, Aug. 11 (UPI) -- A Canadian company is giving up the horse-racing license it had obtained and canceling plans for a new thoroughbred track outside Detroit.
Magna Entertainment suffered a $23 million loss in the second quarter and decided to scrub the proposed track and its accompanying entertainment complex slated for 212 acres in Romulus, not far from Detroit Metropolitan Airport.
Area officials had seen the $100 million project creating 1,000 jobs, while racing fans looked forward to the first thoroughbred venue in Detroit since Ladbrook-Detroit closed in 1998.
The Detroit News said gambling experts weren’t optimistic about the track to begin with since it included provisions for a casino offering slot machines. Michigan law doesn’t allow slots.
